Its always been a bit of a joke, many time it has been awarded to someone who wrote a book, gave a speech or founded a group that said that peace was good or for negotiating infamously bad treaties and agreement. They famously awarded it to Kissinger for ending the Vienam war in 1973(the Vienam war ended with the fall of Saigon 1975) and Sato for pretending to oppose nuclear weapons while working to move US nukes into Japan and discussing the US nuking China to beat back their expanding influence. Though they do sometimes get it right even nowadays, last year it was awarded for ending the Colombian civil war, though who knows that may also turn out be be a disastrous failure.